State Practice 3

Question 1

Nevada licensee Jemma is pretty certain her seller client is lying about certain aspects of the property condition, but she keeps her mouth shut and the sale closes. Later that year, the buyers sue the seller and Jemma for misrepresentation. Is Jemma liable?

Answer 1

Yes. Jemma can be held liable for her client’s misrepresentation because she suspected a problem and didn’t inform the buyer.

Question 2

Nevada’s statute of frauds requires that all _____ must be in writing to be legally enforceable.

Answer 2

Purchase contracts for real property

Question 3

Nevada law requires a ______ at the time a licensee’s client signs a purchase agreement.

Answer 3

Confirmation of agency relationship

Question 4

Nevada licensee Roberta is representing Donna in the sale of her condo. Roberta’s co-worker, Daniel, represents a buyer who’s interested in purchasing Donna’s condo. Their broker, Frank, does allow licensees to practice dual agency. What’s true about this situation?

Answer 4

Their broker may allow them to work with their clients as assigned agents in the transaction. The Consent to Act form isn’t required.

Question 5

Terri represents Susan, who is selling her home. At the open house, Terri meets Joe and Rachel, a young newly married couple who make an offer on the property through their agent. Mark, a retiree, is also interested in Susan’s home, but doesn’t make an offer. To whom must Terri provide the Nevada Residential Disclosure Guide?

Answer 5

Susan

Question 6

Your client Amy has just made an offer on a condominium. According to Nevada law, when must the seller provide the Common-Interest Communities Disclosure to her?

Answer 6

When the seller provides the resale package